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When it comes to selling your home, all kinds of issues can come up before the closing. As a veteran real estate sales professional, I have seen a lot of successes and roadblocks.
Some of the roadblocks fall into common categories. Let me share the most common ones with you.
Roofs
Leak-free roofs are not enough. These days it is all about insurability and the carriers are getting more and more strict as to what they will write a policy against. The fact that you have insurance is no guarantee that your buyer can get insurance. Even though it is the same house, the insurance carriers will start fresh and inspect all parts of the roof before providing coverage. At the surface, even a water-tight roof that is over 20 years is likely not to get a policy. Roofs that have repairs or patches done to more than 15% of the overall square-footage are also going to throw up red-flags. Visible wear, usually caused by tree leaves and branches rubbing against the tiles, can become a showstopper. Flat roofs (usually over your back patio) age faster than a pitched roof. It is usually better to replace a flat roof than to do repairs. In short, if you are a homeowner be mindful of upkeep and if you are doing significant repairs, it might be better to bite the bullet now than to get stuck with an insurance nightmare later.
Electric Panels
Unless there is a power outage, you probably never think about your electrical panel. It should be a ‘set it and forget it’ portion of your home. Unfortunately, this is not always how things shake out in a real estate deal.
Double taps, corrosion, empty sockets and spliced wires in your electric panel are all safety hazards that you want to avoid. You probably never saw your panel with the cover off, but that is exactly what happens during an inspection. Double taps are when someone adds a second circuit to the same breaker. While it may electrically function, it can easily overheat and cause a fire. Bad electricians sometimes do double taps to avoid extra work. Corrosion happens when elements inside the panel become moist or are not tightened correctly.
Empty sockets are a simple safety hazard since fingers can get into the panel where there is live power. Thankfully, this is easy to fix with a simple inexpensive socket cover. Spliced wires that are not correctly covered or secure can also be trouble.
Permits
This is a big ball of wax. Sometimes it is easy to resolve permit issues, other times it ends in disaster. The reality is that open or expired permits can have deep legal and financial consequences. Work done without permits may need to be demolished. Each case is different, but what is common in all instances is that where there is uncertainty, there is disagreement as to how to resolve it. Your best bet is to actively ensure that permits are pulled and closed if you have any work done on your home. Contractors sometimes don’t get permits closed properly and it is ultimately your responsibility to do so. Homeowners in areas that incorporated away from Miami-Dade County, such as Pinecrest (1994), Palmetto Bay (2002) and Cutler Bay (2006) may have permit histories in two jurisdictions. It isn’t fun chasing permits through two sets of red tape.
Plumbing
When it comes to your wastewater, don’t get caught holding the plunger. Most homeowners don’t pay any attention to the water once it goes down the drain. Insurance companies definitely do. Most of the earlier-built homes in the area were built with septic tanks and cast-iron pipes. Both of these home features can be significant problems for you to sell your home. Most septic tanks are old now. They have a high occurrence rate of cracking and failing. An inspection will easily show what most homeowners are ignorant of. Repair and/or replacement of a septic tank can be costly. What is worse is if you are also on well water. Imagine your waste working its way back into your water source. Yuck! Cast-iron pipes are also prone to failure after about 40 years down here in South Florida. This is due to how iron and the limestone around here react to each other. Thankfully, homes build since about 1975 have PVC pipes for wastewater and avoid the issue all together. But if you have failed cast-iron pipes, it is a costly fix and many buyers will just walk away from their purchase contract because of the work involved to restore a home’s flooring after pipe replacement.
Pet Citations
Yes, even pet citations can stop a sale! The most common issue I’ve encountered is dogs who are not current on their shots and citations like being without a leash. If the fines are unpaid, they become liens on your home and you can’t close until they are fully resolved.
It takes a lot to have a successful residential real estate closing. I’ve helped hundreds of buyers and sellers over my many years in the business. I know what to look out for and how to avoid problems in the first place. If I can be of help with your real estate dreams, please get in touch.
Real Estate Update
As of 2/29/24, there were 115 properties for sale in Pinecrest, 19 homes pending sale and 10.5 months of inventory. If you’re ready to move, contact me to get the best local expertise, truthful guidance and realistic expectations. It’s easy to get started at miamihal.com/getstarted. I invite you to view past episodes of my The MiamiHal Real Estate Show at miamihal.com/the-miamihal-real-estate-show to hear from experts and get the latest real estate news.
Hal Feldman (MiamiHal) is a Realtor with RE/MAX Advance Realty. You can contact him with your story ideas or real estate questions at www.MiamiHal.com, Hal@MiamiHal.com or www.facebook.com/MiamiHal
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